Under Armour and NBA star Stephen Curry have ended their 13-year endorsement deal, bringing one of the company’s longest-running athlete partnerships to a close. Both sides said the decision was mutual. Curry will now take full ownership of the Curry Brand, which will operate on its own, while Under Armour plans to release one final Curry shoe (the Curry 13) in February, followed by a few remaining apparel drops later in the year.

The timing adds another challenge for Under Armour, which has been working through a difficult year. The company’s stock is down 43% as shoppers scale back spending on athletic gear and competition in the market grows. Founder Kevin Plank returned as CEO in April after two straight years of declining revenue, and since then he has been focused on getting the company back on steadier footing. 

That has included cutting discounts, clearing excess inventory and putting more attention on performance products that were once central to the brand. Just last week, Under Armour lowered its sales outlook and said its recovery plan will now cost around $255 million, with roughly $95 million tied to the Curry exit and several other contract changes.

Curry first signed with Under Armour in 2013 after Nike chose not to renew his deal, and his rise into one of the NBA’s biggest stars helped define the company during its growth years. Under Armour launched the Curry Brand in 2020, and a contract extension last year gave Curry more influence over the line along with several million shares of UA stock. With his departure, Under Armour loses the athlete most closely tied to its basketball efforts… a category the company expects will bring in about $100 million to $120 million in fiscal 2026.

Plank said the separation gives both sides the opportunity to move forward in the way they prefer. For Under Armour, that means focusing on rebuilding the core UA brand. For Curry, it opens the door to expand his label independently and pursue new partnerships. Even so, the split stands out. Curry was mentioned regularly on Under Armour’s earnings calls for nearly a decade, yet was not mentioned at all during the company’s most recent update, indicating the change had already been in progress.

Meanwhile, the apparel landscape around Under Armour has shifted. Nike and Adidas are facing slower demand of their own, while brands like On and Hoka have gained strong appeal among younger shoppers. 

Under Armour, once viewed as a fast-rising rival when it launched in 1996, has struggled to maintain that position. Plank told analysts the company is taking a fresh look at where it can compete effectively, including in basketball, where he believes Under Armour has not yet shown its full potential.

At the time of publishing this article, Stocks.News doesn’t hold positions in companies mentioned in the article.